Gold rose 1.1% on international markets after its price fell to its lowest level in more than a year in the previous session. The spot price reached $3,918.59 per troy ounce, while US futures for December delivery added 1% to $3,922.60.
Despite the recovery, the precious metal remains down 3.6% for the current week. According to Report.az, citing Reuters, the rise was supported by buying at lower prices following the sharp decline in the previous session.
Market watches inflation and interest rates
On Thursday, prices reached their lowest level since October 2025. Pressure on the price was intensified by rising oil prices and concerns that inflationary pressure in the US could accelerate. This is increasing focus on possible monetary policy tightening.
Data from the CME FedWatch tool shows that the market puts the probability of the Federal Reserve raising its benchmark interest rate by 25 basis points in December at 89%. The probability of a larger, 50-basis-point increase is 11%.
Investors are awaiting the release of the US producer price index. The indicator could provide new guidance on inflation and future decisions by the Federal Reserve, which are among the main factors driving gold prices.
Other metals also rise
In the precious metals market, silver added 0.5% to $50.27 per troy ounce. Palladium rose 1.8% to $1,011.65, while platinum gained 1% to $1,533.29 per troy ounce.